Development and Alumni
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Charitable Gift AnnuitiesThe older you are, the more you're worth!
This type of life income fund can be established with a gift of $10,000 or more to New York Medical College. In exchange for your gift, the College will pay a specified annuity to you and, if you wish, another beneficiary. The payout rate is determined by the age of the beneficiaries and currently varies from 5.5 percent to 11.3 percent. See Gift Annuity Rates table for examples of rates at specific ages.
A portion of the quarterly payments may be tax-free. If you are over age 55, you can begin receiving your annuity payments immediately. After the beneficiaries are no longer living, the College will use your gift for the purpose you have specified.
Advantages of a gift annuity
• You will receive income for life.
• Part of your income may be tax-free.
• Your rate of return is fixed for life and backed by the full resources of
New York Medical College.
• If you make your gift with low-yielding securities, you may actually increase
your current income.
• If you make your gift with appreciated securities, you avoid immediate
capital gains taxes.
• You will receive an immediate income tax charitable deduction.
• You may reduce your estate tax.
• You will have the satisfaction of supporting New York Medical College.
• And you will be invited to join the Legacy Society.
| Deferred Gift Annuity - Great Retirement Planning |
| If you want to begin receiving your annuity gift payments at a later date, you can defer the payments to a specified time, such as your retirement. This plan of making a gift now when your earnings are high with payments to you to begin in the future is called a deferred gift annuity. The length of deferment and your age when payments begin determine the rates on deferred gift annuities. Depending on your age and the number of years you have deferred payment, rates could be from 10 to 30 percent! |